Mumbai-based Yotta, which runs India's largest cluster of Nvidia AI processors, is raising 500-600M USD in pre-IPO funding at a 4B USD valuation. The data center operator plans to file its IPO documents within weeks, positioning itself as a domestic alternative to Western tech giants. https://economictimes.indiatimes.com/tech/startups/ai-startup-yotta-seeks-4-billion-valuation-ahead-of-planned-ipo/articleshow/129690945.cms #India #Tech #AI #Yotta
AI startup Yotta seeks $4 billion valuation ahead of planned IPO

The Mumbai-based company is aiming to secure roughly $500 million to $600 million in capital and then file its formal listing documents within weeks, according to people familiar with the matter. It plans to raise a similar amount in the public offering.

Economic Times

I wonder if those particular air intakes work better than the scoops on snorkels. 🤔

#toyota #yotta #hilux

https://apnews.com/article/congo-m23-ceasefire-7b50a019e45e08798c40e8192abbcfda

Congo's government and rebels say they are working toward a truce in the east

A joint statement from Congo's government and a coalition of insurgents in the country’s east including the M23 rebels says the two sides have agreed to work toward a truce following peace talks in Qatar. The statement was posted online by spokesman Lawrence Kanyuka of the M23 rebels, and confirmed by government spokesman Patrick Muyaya in comments to local media outlets. The statement said the parties had agreed to “work towards concluding a truce” and that they were reaffirming their commitment to “an immediate end to hostilities.” Previous commitments to a ceasefire have not held.

AP News

oh look, another #fintech bankruptcy involving Evolve Bank & Trust.

some other fun places Evolve has popped up:

1. issuer of #FTX and #BlockFi debit cards (before those companies blew up and customers lost all their money)
2. #GeorgeSantos and #AndyOgles held their campaign money at Evolve
3. #Synapse bankruptcy which cost customers of a bunch of fintech "banks" like #Yotta most if not all of their money
4. Partnered with "anti-woke" fintech #GloriFi
5. Got hacked by Russia midway through Synapse bankruptcy proceedings
6. Anonymous crypto debit card issuer for #ZELF
7. Frequently found to be the bank used by #pigbutchering fraudsters
8. Sanctioned by federal reserve for #moneylaundering

The fact that Evolve has not been shut down is insane. Banking system cannot survive if these kinds of bad actors roam free like the wind.

* more on Evolve: https://fintechbusinessweekly.substack.com/p/evolves-problematic-partners-bankruptcies
* even more: https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action

#EvolveBank #EvolveBankAndTrust #finreg #Banking #uspol #AML #BaaS #Russia #putin

Evolve's Problematic Partners: Bankruptcies, Regulatory Actions, Abrupt Shutdowns

Sequoia, Craft Urged Portfolio Companies To Pull $200m in Funds From Evolve-Linked Mercury, Sources Say

Fintech Business Weekly

🚨 owner of the #LATimes just invited the king of the crypto bros #MarcAndreessen, a man whose VC fund #a16z has backed innumerable scams in all shades of fraud (see: #Yotta and #Synapse most recently) in addition to companies that facilitate incredible amounts of Russian #moneylaundering to join the editorial board.

#KleptocracyIsComing

tweet: https://x.com/DrPatSoonShiong/status/1878263014497059135
more on a16z: https://cryptadamus.substack.com/p/of-tech-bros-and-trumpers

andreessen spewed so many outright lies on #JoeRogan a few weeks ago that it kind of spawned an entire cottage industry of line by line takedowns of his bullshit: https://universeodon.com/@cryptadamist/113603397835078618

seems like the kind of guy #journalism needs right now

#MarcAndreessen #LosAngeles #LosAngelesTimes #Russia #Putin #Synapse #cryptocurrency #crypto #VC #venturecapital #DrPatSoonShiong #PatSoonShiong #SoonShiong #NerdReich #TheNerdReich #Broligarchs #Broligarchy

Dr. Pat Soon-Shiong (@DrPatSoonShiong) on X

Is this you, @pmarca? Are you hedging your endorsements? But you’re not the only one who makes mistakes. I’ve made some—like endorsing Karen Bass. And that’s a big reason we didn’t endorse Kamala. I don’t have the luxury of a hedge. Now is the time for leadership, and I’ll

X (formerly Twitter)

more great reporting from Jason Mikula on the #a16z / #MarcAndreessen backed financial disaster known as Synapse, the middleman behind Yotta and others that lost track of (and maybe lost) most of their customers’ money.

Andreessen’s desire to eliminate the #CFPB for “terrorizing” #fintech companies like Synapse suggests a desire to keep backing companies that will strip mine the wallets of uneducated consumers.

Seen also: Evolve Bank & Trust (a bank popular with players like #FTX and #GeorgeSantos), #VoyagerDigital (a crypto company backed by #MarcCuban that incinerated user deposits in 2022), and #MetropolitanCommercialBank (#MCB), a NY institution beloved by the far right in Israel.

https://fintechbusinessweekly.substack.com/p/regulators-should-conduct-material

#EvolveBank #EvolvebankAndTrust #Yotta #Synapse #JasonMikula #FintechBusinessWeekly

Regulators Should Conduct "Material Loss Review" Of Synapse Disaster

“The System Has Failed,” Synapse Trustee, Moved To Tears By Situation, Tells Bankruptcy Court

Fintech Business Weekly

hey remember when #ElonMusk's partner in DOGE, part owner of #Twitter, and self-described "free speech absolutist" #MarcAndreessen threatened advertisers with criminal prosecution if they don't buy ads on #X? that was cool.

#a16z #crypto #freespeech #TheNerdReich #NerdReich #TechFascism #Synapse #Yotta

a much needed dismantling of the bullshit marc andreessen, a billionaire whose fund a16z is an incredible wrecker of average consumers' bank accounts all over the world, was spewing on the Joe Rogan Experience.

https://fintechbusinessweekly.substack.com/p/synapse-investor-marc-andreessen

#JoeRogan #a16z #MarcAndreessen #Synapse #FintechBusinessWeekly #Fintech #baas #VC #VCs #venturecapital #crypto #cryptocurrency #Yotta #LVL #cfpb

Synapse Investor Marc Andreessen Says CFPB "Terrorizes" Fintech, Crypto To Protect Big Banks

a16z's Sprawling Fintech & Crypto Investments Stand To Benefit From Lighter Regulation

Fintech Business Weekly
The Reverse Bank Robbery - Yotta Bank & The Problem with Fintech!

YouTube

Patrick Boyle does a good job giving #a16z chief bro and Nerd Reich mastermind Marc Andreessen a hard time for the insane statements made by the latter on the Joe Rogan Experience a few days ago.

tl;dr Andreessen claimed the Consumer Financial Protection Bureau needs to be eliminated because it's "Elizabeth Warren's personal agency that exists to terrorize fintech companies to prevent them from competing from the big banks" (I'm paraphrasing).

Conveniently unmentioned is that one of #a16z's big fintech investments, #Synapse, has lost something like $50-100 million in customer funds and is exactly the kind of company the #CFPB just announced it would try to regulate.

Andreessen's whole performance on Rogan was truly disgusting.

https://www.youtube.com/watch?v=SAFlRSftffc

#JoeRogan #MarcAndreessen #fintech #Trump #Election2024 #ElonMusk #TheNerdReich #Yotta #PatrickBoyle

The Reverse Bank Robbery - Yotta Bank & The Problem with Fintech!

YouTube
Banking startup customers, including Yotta, report losing savings of $7,000 to $200,000+ following Synapse’s collapse, with US regulators refusing assistance. A wake-up call for fintech security! 💸🔒 #Fintech #Banking #SynapseCollapse #Yotta #StartupFailure #FintechSecurity #Regulation #TechNews